19,815 SF Industrial Building For Sale

Highlights

• Rare Value-add Industrial property For Sale in East Orange
• Close Proximity to All NJ Major Highways
• Approx. 19,815 Interior SqFt of Industrial / Office Space
• Approx. 18,400 SqFt Lot Size
• Proforma Cap Rate = 8.19%
• Value Add component

Description

The Elia Realty Group and KW Commercial are proud to present an exciting new opportunity to own a mixed use Warehouse and Office property in the heart of East Orange, close to all major highways with easy in-an-out access for an owner operator, or an investor looking at obtaining a return on his investment.

Rare Value-add Industrial property For Sale with approx. 19,815 Interior SqFt of Industrial / Office Space and approx. 18,400 SqFt Lot Size. The Proforma Cap Rate = 8.19% for an investor, and easy to move-in for an owner-user. Inquire today before it's sold to someone else who acts faster and more efficient.

East Orange is a city in Essex County, in the U.S. state of New Jersey. As of the 2020 United States census, the city's population was 69,612, an increase of 5,342 (+8.3%) from the 2010 census count of 64,270,, which in turn reflected a decline of 5,554 (−8.0%) from the 69,824 counted in the 2000 census. The city was the state's 17th most populous municipality in 2020, after having been ranked 20th in 2010 and 14th statewide in 2000. The Census Bureau's Population Estimates Program calculated that the city's population was 68,446 in 2022,[ ranking the city the 553rd-most-populous in the country.

History
East Orange had its origins in Connecticut's New Haven Colony. In 1666, a group of 30 of New Haven's families traveled by water to found "a town on the Passayak" River. They arrived on territory now encompassing Newark, the Oranges, and several other municipalities. The area was situated in the northeast portion of a land grant conveyed by King Charles II of England to his brother James, Duke of York. In 1664, James conveyed the land to two proprietors, Lord John Berkeley and Sir George Carteret. Since Carteret had been Royal Governor of the Isle of Jersey, the territory became known as New Jersey.

East Orange was initially a part of Newark and was originally known as Newark Mountains. On June 7, 1780, the townspeople of Newark Mountains officially voted to adopt the name Orange. At the time, there was a significant number of people in favor of secession from Newark. However, this would not occur until November 27, 1806, when the territory now encompassing all of the Oranges was finally detached. On April 13, 1807, the first government was elected, but not until March 13, 1860 was Orange officially incorporated as a city. Immediately, the new city began fragmenting into smaller communities, primarily because of local disputes about the costs of establishing paid police, fire, and street departments. South Orange was organized on January 26, 1861; Fairmount (later to become part of West Orange) on March 11, 1862; East Orange on March 4, 1863; and West Orange (including Fairmount) on March 14, 1863. East Orange was reincorporated as a city on December 9, 1899, based on the results of a referendum held two days earlier.

East Orange was known, at one time, for the shade trees that lined the city's residential streets. This is still evident today as many of the tall trees still stand.

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